ELITE_TOOLING_SOLUTIONS_L - Accounts

ELITE TOOLING SOLUTIONS LIMITED - Company Information

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Company Registration No. 09521961 (England and Wales)

ELITE TOOLING SOLUTIONS LIMITED

UNAUDITED ABBREVIATED FINANCIAL STATEMENTS

FOR THE PERIOD ENDED 31 MAY 2016

ELITE TOOLING SOLUTIONS LIMITED

CONTENTS

Page

Abbreviated balance sheet

Notes to the abbreviated accounts

2 - 3

ELITE TOOLING SOLUTIONS LIMITED

ABBREVIATED BALANCE SHEET

AS AT

31 MAY 2016

- 1 -

2016

Notes

Fixed assets

Intangible assets

40,000

Tangible assets

147,231

187,231

Current assets

Stocks

25,477

Debtors

180,078

Cash at bank and in hand

31,142

236,697

Creditors: amounts falling due within one year

(282,777)

Net current liabilities

(46,080)

Total assets less current liabilities

141,151

Creditors: amounts falling due after more than one year

(44,979)

96,172

Capital and reserves

Called up share capital

100

Profit and loss account

96,072

Shareholders' funds

96,172

For the financial Period ended 31 May 2016 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its financial statements for the Period in question in accordance with section 476;

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.

These abbreviated financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.

Approved by the Board for issue on 29 September 2016

Mr D Thorpe

Mr D Thomas

Director

Company Registration No. 09521961

ELITE TOOLING SOLUTIONS LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS

FOR THE PERIOD ENDED 31 MAY 2016

- 2 -

Accounting policies

1.1

Accounting convention

The financial statements are prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015).

1.2

Turnover and profits

Turnover represents amounts receivable for goods and services net of VAT and trade discounts.

Profit is recognised on long-term contracts, if the final outcome can be assessed with reasonable certainty, by including in the profit and loss account turnover and related costs as contract activity progresses. Turnover is calculated as that proportion of total contract value which costs to date bear to total expected costs for that contract.

1.3

Goodwill

Acquired goodwill is written off in equal annual instalments over its estimated useful economic life.

1.4

Tangible fixed assets and depreciation

Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost less estimated residual value of each asset over its expected useful life, as follows:

Plant and machinery

15% Reducing Balance

Fixtures, fittings & equipment

25& Reducing Balance

Fixed assets

Intangible assets

Tangible assets

Total

Cost

At 1 April 2015

Additions

50,000

174,308

224,308

At 31 May 2016

50,000

174,308

224,308

Depreciation

At 1 April 2015

Charge for the period

10,000

27,077

37,077

At 31 May 2016

10,000

27,077

37,077

Net book value

At 31 May 2016

40,000

147,231

187,231

ELITE TOOLING SOLUTIONS LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)

FOR THE PERIOD ENDED 31 MAY 2016

- 3 -

Share capital

2016

Allotted, called up and fully paid

100 Ordinary of £1 each

100

During the year 100 ordinary shares of £1 each were allotted to provide additional working capital.